Pinetree Capital Announces Election of Directors

TORONTO, ON / ACCESSWIRE / May 30, 2023 / Pinetree Capital Ltd. (TSX:PNP) ("Pinetree") today announced the results of the election of directors at its annual general meeting held earlier today (the "Meeting"). At the Meeting, all matters put forward before Pinetree's shareholders for consideration and approval, as set out in Pinetree's management information circular dated April 10, 2023, were approved by the requisite number of votes cast at the Meeting.

Each of the nominees listed in Pinetree's management information circular dated April 10, 2023 were elected as directors of Pinetree. The results of the shares voted at the Meeting in respect of the election of each director are set out below:

Nominee	Number and Percentage of Shares Voted For	Number and Percentage of Shares Withheld
Damien Leonard	5,325,947 (99.96%)	2,054 (0.04%)
Howard Riback	5,321,516 (99.88%)	6,485 (0.12%)
Craig Miller	5,325,934 (99.96%)	2,067 (0.04%)
Peter Tolnai	4,729,748 (88.77%)	598,253 (11.23%)

The complete voting results of all matters voted on at the Meeting is available on SEDAR at www.sedar.com.

About Pinetree Capital Ltd.

Pinetree is a value-oriented investment and merchant banking company focused on the technology sector. Pinetree's common shares are listed on the TSX under the symbol "PNP"

For further information:

John Bouffard
Chief Financial Officer
416-941-9600 x 200
[e-mail]
www.pinetreecapital.com

SOURCE: Pinetree Capital Ltd.

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The Pinetree Capital Stock at the time of publication of the news with a fall of -3,85 % to 3,50EUR on Toronto stock exchange (30. Mai 2023, 22:10 Uhr).